Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and http://ycprankings.awardspace.us/RankingTables.htm.
Trading signal occurs in HSA model portfolio: Sell VEMAX, Buy FKAIX
Stocks reversed its loss from previous week and posted solid gain for the week. Manufacturing activities slowed in February while durable good order jumped in January giving investors hope for a rebound in business investment. For the week, S&P 500 index closed at 2822 up 2.89%, Dow Jones Industrial Average gained 1.57% and technology laden NASDAQ composite index increased 3.78%.
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| Weekly chart of S&P 500 index |
After successfully testing the 28 week moving average, the S&P 500 index turned positive and close higher than the round number resistance of 2800 this week. As the index still poses high momentum and stay above the trend line, our expectation of moderate advancement of S&P 500 index stays the same.
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